Absa Bank Uganda Limited

Absa Bank Uganda Limited, formerly known as Barclays Bank of Uganda Limited, is a top-notch commercial bank in Uganda that has been providing banking services for almost a century. This bank, which is licensed by the Bank of Uganda, prides itself on meeting the diverse banking needs of individuals, small and medium-sized businesses (SMEs), and large corporations. Before 2006, Absa Bank Uganda Limited exclusively served large corporations and high-net-worth individuals. However, with a focus on expanding its reach and making its services more accessible, the bank now caters to SMEs and regular customers. As of December 2021, the bank’s total assets were valued at UGX:3.9 trillion (US$1.1 billion), and its shareholders’ equity was UGX:521.956 billion (US$148 million). What sets Absa Bank Uganda Limited apart from other banks is its rich history. The bank opened its doors in 1927, and since then, it has been a vital player in the Ugandan banking industry. It started with only three branches, two in Kampala and one in Jinja, but today it has a wide network of branches across Uganda. In 1969, the bank acquired the Ugandan business of the Commercial Bank of Africa, and it further strengthened its presence in the country with the acquisition of Nile Bank Uganda Limited in 2007. Today, Absa Bank Uganda Limited is a subsidiary of Absa Group Limited, a financial services conglomerate based in South Africa with banking subsidiaries in 12 African countries and representative offices in two other African countries. With total assets in excess of US$91 billion, as of October 2019, Absa Bank Group has a reputation for providing exceptional banking services to its customers. As of 31 December 2019, Absa Bank Uganda Limited was the third-largest commercial bank in the country by assets. This goes to show that the bank is a reliable and trusted financial institution that you can bank on for all your financial needs. In summary, if you’re looking for a bank that has a rich history, an extensive network of branches, and a proven track record of delivering exceptional banking services, then Absa Bank Uganda Limited should be your go-to bank. The bank is committed to meeting the diverse banking needs of its customers, and it has the resources and expertise to provide you with the best banking experience possible.